Libor: Serious Fraud Office charges two more brokers

Canary Wharf skyline Barclays, UBS and RBS have all been implicated in the Libor scandal

Related Stories

Two former brokers have been charged with conspiracy to defraud in connection with the manipulation of the inter-bank lending rate Libor.

The Serious Fraud Office (SFO) said Terry Farr, 41, and James Gilmour, 48, formerly at RP Martin Holdings, were charged by City of London Police.

They will appear before Westminster Magistrates' Court at a later date.

They were arrested in December, along with former UBS and Citigroup trader Tom Hayes, who was charged in June.

In a short statement on Monday, the SFO said Mr Farr and Mr Gilmour "attended Bishopsgate police station this morning where they were each charged by City of London Police with counts of conspiracy to defraud".

The SFO opened its investigation into Libor manipulation in the wake of Barclays' £290m ($454m) fine by US and UK authorities. A string of international banks have been implicated in the affair.

The Libor rate is used to set trillions of dollars of financial contracts, including many car loans and mortgages, as well as complex financial transactions around the world.

More on This Story

Related Stories

More Business stories


Features & Analysis

From BBC Capital


  • A bicycle with a Copenhagen WheelClick Watch

    The wheel giving push bikes an extra boost by turning them into smart electric hybrids

Try our new site and tell us what you think. Learn more
Take me there

Copyright © 2015 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.